Have you ever had to ask your parents if they have an up-to-date will?
Or text your friend to see if he plans to pay you back for the last 3 times he “accidentally forgot his wallet at home”?
How about having a serious “we need to talk” talk with your partner whom you think might have a debilitating debt problem?
I sincerely hope you haven’t had to navigate too many awkward money conversations, as they tend to raise blood pressure, induce excessive sweating, and create questionable-looking bruises from repeated facepalming.
Money is a tricky subject to broach in person. But sometimes, talking about money is necessary, practical, and healthy within the proper context.
That’s why I turn to reddit, an anonymous online forum, to “get my fix” of casual money talks.
If you’re eager to learn, willing to share your experience – and let’s be honest because there’s no shame in admitting this – curious about other people’s financial details, you might very well find solace in the virtual company of other personal finance enthusiasts on reddit.
I’m going to share 13 active subreddits about personal finance that I frequently browse.
If a hodge-podge of essential money topics like budgeting, saving, paying off debt, credit building, investing, and retirement planning is your cup of tea, then you’d be pleased with r/personalfinance.
As one of the most active subreddits on this list, the resources on the sidebar are worth checking out (I highly recommend this flowchart), especially if you are new to taking control of your finances.
The only potential drawback: it is very U.S.-centric. But that shouldn’t deter those living outside of the U.S. from joining. After all, sound advice tends to be universal, although the specifics might be different.
Interesting recent discussions:
- Splitting expenses w/ spouse when I have a variable income?
- Do I help myself or help my parents?
- Things I wish I’d done in my 20’s
- Thoughts on carrying a big balance on credit cards?
If you’d rather talk about TFSAs and RRSPs instead of 401(k)s and Roth IRAs, then this sub is for you.
Interesting recent discussions:
- Oh, what tangled webs we weave when we practice bad money management.
- Should pay down my 0% mortgage or invest more into my TFSA?
- I’m trying to go mortgage free. Is it possible?
- When to file for bankruptcy and how does it work
3. r/finance
Think of r/finance as a curated list of important news regarding the state of the global economy, latest IPO filings, and large-cap stocks (i.e., big companies).
If you ever want an easy and fast way to gauge how the market is doing overall, take a quick look at the post titles in this sub.
Interesting recent discussions:
- Understanding Yield Curve Inversion
- World needs to end risky reliance on U.S. dollar
- The CEOs of nearly 200 companies just said shareholder value is no longer their main objective
- Hong Kong protests’ more serious’ than US-China trade war for global markets
This subreddit is perfect for folks who earn a modest income and/or are near the beginning of their money journey.
Celebrations of debt pay-offs and milestones achieved are commonplace.
If you need a judgment-free zone to discuss ways to save $100 a month on groceries, which debt to pay off first, and bankruptcy options, this is it!
Interesting recent discussions:
- In two weeks, I will have $1000 saved.
- Washing my laundry in my bathtub to save $20. What’s the saddest thing you’ve done to save money lately?
- Car was repossessed a month ago, power was cut off 3 days later. Wife cannot work due to illness.
- What can I do so my kids don’t fall in the poverty trap?
As the name suggests, this sub is perfect for anyone with a passing interest in pursuing financial independence.
No matter where you are in your F.I. journey, you would not feel out of place here.
Sure, you’ll see active folks on this sub that are in their early 30s, saving 55% of their gross income, and have already amassed a sizable net worth, but you’re just as likely to meet people across the whole spectrum of F.I. progress.
There’s a fun tradition in this sub of telling anyone who’s achieved financial independence to “go eff yourself” (as a joking acknowledgment of jealousy).
I hope to one day stumble upon your F.I. celebration post, and I promise to keep my profanity to a minimum.
Interesting recent discussions:
- Is living in a high cost of living area almost always better to become financial independent?
- Why millionaires are becoming more common
- Wealth is getting more and more concentrated among households that are averse to spending it.
- Does anybody feel guilty about having FIRE wealth while not donating much to charity?
6. r/leanfire
LeanFIRE is taking a minimalist approach to FIRE. Usually, people going this route aim to drastically reduce their expenses (surviving on less than $40,000 per year), making it possible to retire early with less than $1,000,000 saved up.
Frugality is a popular topic on r/leanfire. But the lines between r/leanfire and r/financialindependence are starting to blur, if you want my honest opinion.
Interesting recent discussions:
- Just turned 21, what advice would you give your younger self?
- [27M from Argentina] 690K net worth, burnt out from job, could I FIRE now?
- Is anyone else planning on moving to the woods and living off the land as much as possible when they FIRE?
- What is your conservative investment style that has been allowing you to be on target?
7. r/fican
What do r/fican subscribers collectively think? Poutine and maple syrup rule!
Oh, and the FIRE movement isn’t too shabby either. Sorry!
Interesting recent discussions:
- Advice for a 20yo Canadian with no debt to reach FIRE before 30?
- Buying vs Renting in Downtown Toronto as a Single Professional Who Has No Plans
- Best spots to live in Canada for weather + not outrageous housing?
- What’s your FIRE number?
8. r/EuropeFIRE
Who needs Pornhub when you can browse r/EuropeFIRE, the sexist corner of the web where Europeans could contemplate the most fashionable and elegant ways to achieve FIRE.
I applaud anyone attempting FIRE in Europe, where tax rates for high-income earners are higher than Mount Vesuvius, among other investment hurdles.
But let’s face it, living in Europe is worth it! Also, crazy low mortgage rates.
Interesting recent discussions:
- Where to move in Europe as a E.U. Citizen and business owner for lower taxes?
- Best FIRE EU country
- Best online brokers in the European Union?
- Thoughts on what I hope is a well-balanced, diversified ETF portfolio for the long-term?
9. r/fatFIRE
If your net worth hovers around $3 to $5 million, it isn’t easy to find your crowd online, but you’ll feel right at home in r/fatFIRE.
Interesting recent discussions:
- Perspective on my ability to “coast” to FatFIRE [2.4M net worth, 29 years old]
- For those building generation wealth, what expectations do you have for your kids?
- Curious how this community views art as form of investment
- Anyone here accumulating toward FatFIRE in top income percentile not actually feel “rich”?
10. r/FIREyFemmes
This subreddit is for empowered women who want to talk about FIRE with other women.
Hands down the most community-like subreddit on this list, in the sense that daily and weekend discussion threads make up the bulk of the content on this sub.
Interesting recent discussions:
11. r/investing
Nothing that pertains to investing is off-limits here: ETFs, index funds, REITs, plain old real estate, cryptocurrency, you name it.
There’s a tiny but noticeable content overlap with r/finance.
Interesting recent discussions:
- How do rich people invest?
- What does a quant trader/statistician/mathematician exactly do while trading?
- Rental Properties: Is The Math Really As Bad As It Seems?
- Can someone ELI5 “call” and “put”?
This sub is not as active as I’d like it to be, but there simply isn’t a better place on reddit to discuss investment opportunities geared towards Canadians.
Interesting recent discussions:
- Best platform for casual investing TFSA
- Canadian Energy Sector
- Buying preferred shares on margin (revisited)
- Future of Cannabis stock in Canada
The description for this subreddit is as follows:
“Interested in Real Estate Investing? You’ve come to the right place! /r/realestateinvesting is focused on sharing thoughts, experiences, advice, and encouraging questions regardless of your real estate investing niche! Creative Finance, Flipping/Rehabbing, Wholesaling, Lending and more!”
Enough said. I can’t top that.
Interesting recent discussions:
- What are some advantages we as investors have today that we DIDN’T have after the crash of 2008?
- How do you evaluate if a rental property makes sense?
- Are you guys real estate agents? Is it worth getting licensed to be one if you plan on buying multiple properties over time?
- Do you increase rent on good tenants? How often + how much ($) of an increase?
One comment
Thanks! I will probably check out r/povertyfinance.